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Shared purchase scheme unveiled in Radcliffe

First time buyers in north Manchester are being tempted by a new scheme that gives them the chance to buy 100 per cent of a new property but for three quarters of the price.

George Wimpey has launched a scheme in Radcliffe that allows homebuyers to pay for 75 per cent of the purchase price.

The developer will then provide an interest-free loan on the remaining 25 per cent for up to a decade.

This scheme is available at Chapelfield Park, where a two-bedroom flat can be bought for just under £106,500.

Anthony Mansfield, sales director at George Wimpey, said. "We believe that this is just the sort of simple and effective scheme that buyers are looking for at the moment."

According to a poll by insurance company Zurich, just over half of all Brits consider property to be a good investment, despite falling house prices and the credit crisis.
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30/06/2008